How do you handle losses in trading? - page 4.

deisik

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Quote from: Bright_dhykseen on May 30, 2020, 07:00:58 AM

Quote from: Jating on May 30, 2020, 05:29:43 AM

No regrets whatsoever if the price continue to increase after I sold off. It's not the nature of crypto, very volatile and unpredictable. And you mentioned greed, yes, that's another emotions that we traders need to get ahold of. We should unless not to get carry but this emotions because in most cases it will spell between a successful trade and profits and losing more money in the end.

Exactly!. Take your profit and don't look back!

Not a very bright idea if you ask me. While it makes perfect sense in gambling (otherwise known as "roll and run"), with trading you are typically in for the long haul. It means reinvesting almost everything earned to unleash the full potential of compounding. Indeed, you may and in fact must switch between assets by selling overpriced and buying undervalued ones (known as "portfolio reshuffle"), but other than that, it is a never-ending game of making dough

And another key difference from gambling

sweetbet

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I do a lot more research about the project before I invest in it, and will only buy the bottom of a good project. That's how I minimize losses. When I first started out, I invested in a lot of scam projects that stole my money, and I FOMO'ed into shitcoins and panic sold the dips. I've learned a lot since then.

abel1337

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Quote from: carlfebz2 on May 30, 2020, 02:59:09 PM

Quote from: deisik on May 30, 2020, 02:39:22 PM

Quote from: Bright_dhykseen on May 27, 2020, 12:27:50 PM

Taking consecutive losses in trading has led to a lot of blown accounts

While it can be frustrating, it is not the end of the world

Trading is very much like gambling, but unlike gambling all your losses are paper only unless they become realized, i.e. when the position is closed. With gambling it is quite different, and when your balance is wiped out clean, it is the end of the world of sorts. Of course, trading shitcoins is not particularly different from gambling in terms of financial result, but the difference is still one of kind rather than degree. Put shortly, seeing a few losses here and there is nothing for a seasoned gambler who turned to trading

The thing here is that you do still able to have that potential comeback or recovery since you do still own those coins that you have traded which means it not totally a loss or completely wipe out but somewhat
you are holding some less value coins but you can choose to hold em up and this is the difference between pure gambling.

Its not necessary for us to have those lots of mistakes or losses for us to learn.While we are on the process of learning, we should try our best to minimize the risk as possible.

Handling out losses might vary one each individual because not all would really have the same level of understanding and emotional aspect.

If you're in the spot market you can possibly regain you're lost by buying some cheap tokens that have the capability of making yourself a comeback but if you are on a future market and you are wiped, It's sad because you totally lost your capital in it.

You're right, It's not the end of the world if you lose on a trade. We, humans, keep learning new things that we can apply on another repeated process, Just be positive about your loss. It's better to gain real experience in losing to make yourself more determined on your next trades. Remember that no trader has a 100% accuracy on their trades, Every trader experience losses. Weather it is a trading guru, A full time trader or a Pro trader.

carlfebz2

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Quote from: deisik on May 30, 2020, 02:39:22 PM

Quote from: Bright_dhykseen on May 27, 2020, 12:27:50 PM

Taking consecutive losses in trading has led to a lot of blown accounts

While it can be frustrating, it is not the end of the world

Trading is very much like gambling, but unlike gambling all your losses are paper only unless they become realized, i.e. when the position is closed. With gambling it is quite different, and when your balance is wiped out clean, it is the end of the world of sorts. Of course, trading shitcoins is not particularly different from gambling in terms of financial result, but the difference is still one of kind rather than degree. Put shortly, seeing a few losses here and there is nothing for a seasoned gambler who turned to trading

The thing here is that you do still able to have that potential comeback or recovery since you do still own those coins that you have traded which means it not totally a loss or completely wipe out but somewhat
you are holding some less value coins but you can choose to hold em up and this is the difference between pure gambling.

Its not necessary for us to have those lots of mistakes or losses for us to learn.While we are on the process of learning, we should try our best to minimize the risk as possible.

Handling out losses might vary one each individual because not all would really have the same level of understanding and emotional aspect.

deisik

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Quote from: Bright_dhykseen on May 27, 2020, 12:27:50 PM

Taking consecutive losses in trading has led to a lot of blown accounts

While it can be frustrating, it is not the end of the world

Trading is very much like gambling, but unlike gambling all your losses are paper only unless they become realized, i.e. when the position is closed. With gambling it is quite different, and when your balance is wiped out clean, it is the end of the world of sorts. Of course, trading shitcoins is not particularly different from gambling in terms of financial result, but the difference is still one of kind rather than degree. Put shortly, seeing a few losses here and there is nothing for a seasoned gambler who turned to trading

bitgolden

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Quote from: lienfaye on May 30, 2020, 07:01:06 AM

Everytime I experience losses in trading, I calm myself by turning my attention into other things so that I cant think deeply the losses and the mistakes I did. When I was still new I cant handle losing my money and it makes me depress, however as time goes by I learned to accept the unfortunate situation and do better the next time. Because in the end I realized through that losses you will learn something. Its best to only use the amount you can afford to lose so it wont be hard to accept having losses.

That makes sense, I never thought about it that way. Trading is not the only part of life and when you end up with a loss it is a very bad feeling, you could figure out ways to see it as a good thing or you could try to just suppress that feeling, but focusing on something totally different is a great idea. I personally never tried it but from now on I am going to try it as much as I can.

To start off with watching a movie after a loss could be a great thing, whenever I feel sad because of something, I try to watch a series on netflix and I am usually watching so many and listed so many I barely ever run out, and it helps me forget them, and loss in trading is one of them that I never considered. So on my next ever loss on trading, I will just go to netflix and start watching a show, that will probably help me too.

monineklutak

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if you trade in the spot market, the loss will definitely be replaced by another investment at a cheap price,
but if you play in the futures exchange then you can lose all your money

ScamViruS

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I have already suffered huge losses many times in trading. But I did never give up. I have tried to find out every mistake and try to build my own trading skills. I took a big break so that I could make myself better again. When a trader makes a loss, he tries to find out his mistake. By doing this, he prepares himself so that he does not make the same mistake in the future. Every trader faces losses, but those who can correct their mistakes at once are made good traders. Traders cannot handle their own losses and cannot prevent themselves from making the same mistake again, they cannot be good traders.

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Quote from: Bright_dhykseen on May 27, 2020, 12:27:50 PM

Taking consecutive losses in trading has led to a lot of blown accounts.

Losses affects us psychologically and doesn't make us think logically.

Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses?

Share your experiences and techniques, this will be helpful.

It has not been an easy thing to do man. There are times I will be trading and lose a money that I don't want to lose, I will end up feeling really bad that day. When we are not getting practiced to losses in trading, passing the day after a loss will be feeling like leading life in Hell. I can remember the day I lost money and I couldn't even eat lol Grin

. I was just there feeling really bad.

Well, that was in the past, I have learnt a lot and also how to manage my risks. I think anyone that wants to be a day trader or even an investor should learn risk management, it will help them a lot. You should know the level of risk you can tolerate and stick to that level. This time around when I lose money I don't bother much, because I know I will still be able to cover up in few days.

lienfaye

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Everytime I experience losses in trading, I calm myself by turning my attention into other things so that I cant think deeply the losses and the mistakes I did. When I was still new I cant handle losing my money and it makes me depress, however as time goes by I learned to accept the unfortunate situation and do better the next time. Because in the end I realized through that losses you will learn something. Its best to only use the amount you can afford to lose so it wont be hard to accept having losses.

Bright_dhykseen

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Quote from: Jating on May 30, 2020, 05:29:43 AM

Quote from: Bright_dhykseen on May 30, 2020, 04:26:08 AM

Knowing when to take profits is a skill on its own.
Greed effect sets in every now and then. Just focus on a reasonable target.

Yeah, and it's really hard to learn it, others have experience but it's not a the only thing that will let you know when to get out. I guess one strategy that I use is to have a exit plan, at least if I have achieved my it, I will simply get out and not look back.

No regrets whatsoever if the price continue to increase after I sold off. It's not the nature of crypto, very volatile and unpredictable. And you mentioned greed, yes, that's another emotions that we traders need to get ahold of. We should unless not to get carry but this emotions because in most cases it will spell between a successful trade and profits and losing more money in the end.

Exactly!. Take your profit and don't look back!

BitcoinTurk

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I usually prevent me from losing more money by taking care not to make more transactions when I lose money while trading. In addition, I do not neglect to rest myself for a few days in case of a serious loss, and thus, I get my next transactions calmly and comfortably and get a return from those transactions. Also, since I use stop loss when trading, it can be quite easy to save the money I usually lost. If you lose money while trading, all you need to do is calm down a little and re-analyze more calmly. In this way, you can earn the money you lost in your next transactions.

Jating

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Quote from: Bright_dhykseen on May 30, 2020, 04:26:08 AM

Knowing when to take profits is a skill on its own.
Greed effect sets in every now and then. Just focus on a reasonable target.

Yeah, and it's really hard to learn it, others have experience but it's not a the only thing that will let you know when to get out. I guess one strategy that I use is to have a exit plan, at least if I have achieved my it, I will simply get out and not look back.

No regrets whatsoever if the price continue to increase after I sold off. It's not the nature of crypto, very volatile and unpredictable. And you mentioned greed, yes, that's another emotions that we traders need to get ahold of. We should unless not to get carry but this emotions because in most cases it will spell between a successful trade and profits and losing more money in the end.

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Quote from: TitanGEL on May 29, 2020, 10:54:32 PM

I treat losses as a win! It is seems like ironic but I really do. Yes, there still frustation and irritation when I lose but I see the advantages of losing. Mistakes can make us a better trader, I believe that we are not going to become a professional trader if we will treat mistake as a lesson. Losing is part of the game, if we want to survive in trading we should get used to it.

Remember that trading is a game of possibilities, there is a really a times that we can lose. But remember that we should onle have 3 results in every trade and these are: win big, win small and lose small. We should avoid losing big because it is really hard to regain our losses especially if the trend is against us.

Great point! had a twist at the beginning Grin

but i get the point.

I think the three results are: Win, loss, and Break-even.

Quote from: michellee on May 30, 2020, 02:02:24 AM

If many traders know about that, they will have the opportunity to handle losses in trading, and they don't have to worry if they cannot make a profit again because they will have their time to make it again. But sometimes, our emotion becomes bigger when we see the price can jump to the very high price so that can make us want to wait for another higher price which can lead us to get stuck if the price is back to the lower price. That is greedy that will come to every trader who doesn't know how to close their trade when they can make a profit.

Knowing when to take profits is a skill on its own.
Greed effect sets in every now and then. Just focus on a reasonable target.

rodskee

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Quote from: Bright_dhykseen on May 27, 2020, 12:27:50 PM

Taking consecutive losses in trading has led to a lot of blown accounts.

Losses affects us psychologically and doesn't make us think logically.

Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses?

Share your experiences and techniques, this will be helpful.

If you are investing your money for Food in table,then you must felt like that but if you are trading here in crypto with
knowledge then there is no chance that this will across your mind
because for sure you already know the option and risk of investing here in this volatile market as many of us already
have this idea so we can smiloe after losing in our trading.

And why need to feel like this?Psychological effect?nope it can't be possible if we only invested what we can afford to lose.

Remember that Crypto is volatile so any time we can experience Failure but on other side we can have be a successful
trader just let your mind explore and accept things that may come our way,and if you
cannot afford day trading then shift to HOLDING.

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Quote from: Shasha80 on May 29, 2020, 06:31:16 PM

Having a loss is a sure thing that happens if we trade, so we must be able to handle losses in trading. Many ways we can do to deal
with losses. Including controlling emotions when trading, using the stop-loss feature, buy coins that have high volumes, avoid over
trading and don't take profits too big. If the tips I mentioned are done well. I'm sure we can definitely handle losses.

If many traders know about that, they will have the opportunity to handle losses in trading, and they don't have to worry if they cannot make a profit again because they will have their time to make it again. But sometimes, our emotion becomes bigger when we see the price can jump to the very high price so that can make us want to wait for another higher price which can lead us to get stuck if the price is back to the lower price. That is greedy that will come to every trader who doesn't know how to close their trade when they can make a profit.

TitanGEL

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I treat losses as a win! It is seems like ironic but I really do. Yes, there still frustation and irritation when I lose but I see the advantages of losing. Mistakes can make us a better trader, I believe that we are not going to become a professional trader if we will treat mistake as a lesson. Losing is part of the game, if we want to survive in trading we should get used to it.

Remember that trading is a game of possibilities, there is a really a times that we can lose. But remember that we should onle have 3 results in every trade and these are: win big, win small and lose small. We should avoid losing big because it is really hard to regain our losses especially if the trend is against us.

goaldigger

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Quote from: Bright_dhykseen on May 27, 2020, 12:27:50 PM

Taking consecutive losses in trading has led to a lot of blown accounts.

Losses affects us psychologically and doesn't make us think logically.

Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses?

Share your experiences and techniques, this will be helpful.

Losing your hard earned money is very difficult to deal with but of course you have to be more professional when it comes to trading so you won’t lose that much. I always set my cutting loss price so I can minimize my losses and its very effective so the next time I trade it should be base on my homework, and not just by any speculation. Stop putting too much emotions on your trading, be professional and be a winner.

Shasha80

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Having a loss is a sure thing that happens if we trade, so we must be able to handle losses in trading. Many ways we can do to deal
with losses. Including controlling emotions when trading, using the stop-loss feature, buy coins that have high volumes, avoid over
trading and don't take profits too big. If the tips I mentioned are done well. I'm sure we can definitely handle losses.

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Quote from: Haneefah on May 29, 2020, 04:40:47 PM

You just have to take every loss as a lesson you get back up and try again. You shouldnt let it get to you thats what i have seen about trading if you start drooling about that one loss you might even get to loose more

In my case, if I lost in trading for a certain coin, I tried not to look back.
I don't check the prices again, I just moved on.
That's what I learned whenever I finished the trading.
Because if I will check the price over and over again, it really messes up my head.
So once I'm done with the trading, I go to another exchange or just log off in my account.
Losing is part of the trading life, so just accept that in some days you will have bad days.

Topic: How do you handle losses in trading? - page 4. (Read 1318 times)